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The $8,000 homebuyer tax credit is running out. Or is it?

October 09, 2009

The $8,000 "first-time homebuyer" tax credit is set to expire on November 30, so you need to move quickly if you want to close on a house by then.

Or maybe not. The politicians are reportedly considering an extension for the credit.

If they extend it once, they probably will extend it every year. Why? As Kay Bell explains:

The first-time homebuyer credit, like many tax breaks before it and unfortunately many more that will come after it, is flat out pandering to political special interests that wield a lot of power, and political action committee money, in election years.

But Russ Fox sees the silver lining at his spiffy new blog home.

Tags: Homebuyer credit.Kay Bell.Russ Fox.